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1. Organization, Basis of Presentation and Summary of Significant Accounting Policies <div style="font-size:10.0pt;font-family:Times New Roman;">Organization and Basis of Presentation</div>Phathom Pharmaceuticals, Inc., or the Company or Phathom, was incorporated in the state of Delaware in January 2018. The Company is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases. The Company’s financial statements are prepared in accordance with U.S. generally accepted accounting principles, or GAAP. <div style="font-size:10.0pt;font-family:Times New Roman;">Liquidity and Capital Resources From inception to June 30, 2022, the Company has devoted substantially all of its efforts to organizing and staffing the Company, business planning, raising capital, in-licensing its initial product candidate, vonoprazan, meeting with regulatory authorities, managing the clinical trials of vonoprazan, preparing for commercialization of its initial products containing vonoprazan, and providing other general and administrative support for these operations. The Company has a limited operating history, has never generated any revenue, and the sales and income potential of its business is unproven. The Company has incurred net losses and negative cash flows from operating activities since its inception and expects to continue to incur additional net losses in the future as it continues to develop and prepares for commercialization of vonoprazan. From inception to June 30, 2022, the Company has funded its operations through the issuance of convertible promissory notes, commercial bank debt, the sale of <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10,997,630 shares of common stock for net proceeds of approximately $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">191.5 million in its 2019 IPO, and the sale of <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,250,000 shares of common stock for net proceeds of approximately $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">88.6 million in its December 2020 follow-on public offering. The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities in accordance with GAAP. Management is required to perform a two-step analysis over the Company’s ability to continue as a going concern. Management must first evaluate whether there are conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern (Step 1). If management concludes that substantial doubt is raised, management is also required to consider whether its plans alleviate that doubt (Step 2). Management believes that it has sufficient working capital on hand to fund operations through at least the next twelve months from the date these financial statements were issued. There can be no assurance that the Company will be successful in acquiring additional funding, if needed, that the Company’s projections of its future working capital needs will prove accurate, or that any additional funding would be sufficient to continue operations in future years. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Use of EstimatesThe preparation of the Company’s financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s financial statements and accompanying notes. The most significant estimates in the Company’s financial statements relate to accruals for research and development expenses and the valuation of various equity instruments. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results could differ materially from those estimates and assumptions.</div><div style="font-size:12.0pt;font-family:Times New Roman;">Fair Value MeasurementsThe accounting guidance defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or non-recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, are classified within the Level 1 designation discussed above, while prepaid and other current assets, accounts payable, and accrued liabilities, approximate fair value due to their short maturities. The Company has <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no financial assets measured at fair value on a recurring basis. <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">None of the Company’s non-financial assets or liabilities are recorded at fair value on a <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">non-recurring basis. <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">No transfers between levels have occurred during the periods presented.</div><div style="font-size:10.0pt;font-family:Times New Roman;">Cash and Cash EquivalentsThe Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents include cash in readily available checking accounts and money market funds. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Concentrations of Credit RiskFinancial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</div><div style="font-size:10.0pt;font-family:Times New Roman;">Property, Plant, and Equipment, Net Property, plant and equipment are recorded at cost, less accumulated depreciation. Depreciation expense is recognized using the straight-line method over the useful life of the asset. Computer equipment and related software are depreciated over two to three years. Furniture and fixtures are depreciated over three years. Leasehold improvements are amortized over the lesser of the lease term or the estimated useful lives of the related assets. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in loss from operations. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Impairment of Long-Lived AssetsThe Company reviews long-lived assets, including property, plant and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">No impairment losses have been recorded through June 30, 2022.</div><div style="font-size:10.0pt;font-family:Times New Roman;">LeasesAt the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company records the associated lease liability and corresponding right-of-use asset upon commencement of the lease using the implicit rate or a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. The Company additionally evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. A lease is accounted for as a finance lease if it meets one of the following five criteria: the lease has a purchase option that is reasonably certain of being exercised, the present value of the future cash flows is substantially all of the fair market value of the underlying asset, the lease term is for a significant portion of the remaining economic life of the underlying asset, the title to the underlying asset transfers at the end of the lease term, or if the underlying asset is of such a specialized nature that it is expected to have no alternative uses to the lessor at the end of the term. Leases that do not meet the finance lease criteria are accounted for as an operating lease. Operating lease assets represent a right to use an underlying asset for the lease term and operating lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease liabilities with a term greater than one year and their corresponding right-of-use assets are recognized on the balance sheet at the commencement date of the lease based on the present value of lease payments over the expected lease term. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. As the Company’s leases do not typically provide an implicit rate, the Company utilizes the appropriate incremental borrowing rate, determined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. Lease cost is recognized on a straight-line basis over the lease term and variable lease payments are recognized as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space leased by the Company. The Company has elected the practical expedient to not separate between lease and non-lease components. In addition, the Company elected the short-term lease exception for leases with an initial term of one year or less. Consequently, such leases are not recorded on the Company's balance sheets. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Revenue Interest Financing LiabilityThe Company entered into a revenue interest financing agreement, or the Revenue Interest Financing Agreement, with entities managed or advised by NovaQuest Capital Management, or NQ, Sagard Holdings Manager LP, or Sagard, and Hercules Capital, Inc., or Hercules, together with NQ and Sagard, the Initial Investors, in which the Company received funds in return for royalties on net sales of products containing vonoprazan. The net proceeds received under the transaction were recognized as a long-term liability with interest expense based on an imputed effective rate derived from the expected future payments. The Company recalculates the effective interest rate each period based on the current carrying value and the revised estimated future payments. Changes in future payments from previous estimates are included in current and future financing expense. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Research and Development Expenses and AccrualsAll research and development costs are expensed in the period incurred and consist primarily of salaries, payroll taxes, employee benefits, stock-based compensation charges for those individuals involved in research and development efforts, external research and development costs incurred under agreements with contract research organizations and consultants to conduct and support the Company’s ongoing clinical trials of vonoprazan, and costs related to manufacturing vonoprazan for clinical trials.</div>The Company has entered into various research and development contracts with clinical research organizations, clinical manufacturing organizations and other companies. Payments for these activities are based on the terms of the individual agreements, which may differ from the pattern of costs incurred, and payments made in advance of or after performance are reflected in the accompanying balance sheets as prepaid expenses or accrued liabilities, respectively. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. <div style="font-size:10.0pt;font-family:Times New Roman;">In-Process Research and DevelopmentThe Company evaluates whether acquired intangible assets are a business under applicable accounting standards. Additionally, the Company evaluates whether the acquired assets have a future alternative use. Intangible assets that do not have future alternative use are considered acquired in-process research and development. When the acquired in-process research and development assets are not part of a business combination, the value of the consideration paid is expensed on the acquisition date. Future costs to develop these assets are recorded to research and development expense as they are incurred.</div><div style="font-size:10.0pt;font-family:Times New Roman;">General and Administrative ExpensesGeneral and administrative expenses consist of salaries, stock-based compensation, facilities and third-party expenses. General and administrative expenses are associated with the activities of the executive, finance, accounting, information technology, legal, medical affairs and human resource functions. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Stock-Based Compensation Stock-based compensation expense represents the cost of the grant date fair value of equity awards recognized over the requisite service period of the awards (generally the vesting period) on a straight-line basis with forfeitures recognized as they occur.The Company also maintains an employee stock purchase program, or ESPP, under which it may issue shares. The Company estimates the fair value of shares that will be issued under the ESPP, and of stock options using the Black-Scholes valuation model, which requires the use of estimates. The Company recognizes stock-based compensation cost for shares that it will issue under the ESPP on a straight-line basis over the requisite service period of the award. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Income TaxesThe Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date.The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.The Company records uncertain tax positions on the basis of a two-step process whereby (i) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability.Beginning in 2022, the Tax Cuts and Jobs Act, or TCJA, eliminates the option to deduct research and development expenditures currently and requires taxpayers to amortize domestic and foreign research and development expenditures over 5 years and 15 years, respectively. The requirement did not impact cash from operations in the current period.</div><div style="font-size:10.0pt;font-family:Times New Roman;">Comprehensive LossComprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented.</div><div style="font-size:10.0pt;font-family:Times New Roman;">Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one operating segment. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. The Company included <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">7,588,000 shares of common stock under its warrant (the “Takeda Warrant”) issued to Takeda Pharmaceutical Company Limited (“Takeda”) in connection with a May 2019 license agreement (see Note 4) in the calculation of basic weighted-average common shares outstanding from the time it became exercisable at the Company’s IPO until its exercise because the Takeda Warrant was exercisable for little consideration. As of June 30, 2022, all Takeda Warrants has been exercised and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no Takeda Warrants remain exercisable. For the three and six months ended June 30, 2022, the Company has excluded weighted-average unvested shares of <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">800,002 and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">910,828, respectively, from the weighted-average number of common shares outstanding, compared to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,280,603 and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,430,800, respectively for the same periods in 2021. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. Dilutive common stock equivalents are comprised of unvested common stock, options and warrants. For the periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities (warrants, stock options, and common shares subject to repurchase) would be antidilutive. </div><div style="font-size:10.0pt;font-family:Times New Roman;">Recently Adopted Accounting Standards There were no recently adopted accounting standards which would have a material impact on the Company's financial statements.Recently Issued Accounting PronouncementsThe Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board or other standard setting bodies on the Company's financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. There were no new material accounting standards issued in the first half of 2022 that impacted the Company.</div>

10997630

191500000

2250000

88600000

0 0

0 0 0 0

P3Y

P5Y P15Y

7588000

800002

910828

2280603

2430800

904000

646000

1023000

780000

85000

76000

2012000

1502000

1129000

852000

883000

650000

149000

131000

277000

256000

4314000 3165000

5201000

6344000

4229000

1855000

39000

41000

13783000

11405000

0 0 0 0 0 16000 1200000 1700000

100000

700000

400000

1600000

P2Y 1400000 900000

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1300000

200000

The agreement will remain in effect, on a country-by-country and product-by-product basis, until the later of (i) the expiration of the last to expire valid patent claim covering vonoprazan fumarate alone or in combination with at least one other therapeutically active ingredient, (ii) the expiration of the applicable regulatory exclusivity and (iii) 15 years from the date of first commercial sale, unless earlier terminated. The Company may terminate the Takeda License upon six months’ written notice. The Company and Takeda may terminate the Takeda License in the case of the other party’s insolvency or material uncured breach. Takeda may terminate the Takeda License if the Company challenges, or assists in challenging, licensed patents. P15Y 25000000.0

1084000

5900000

7588000

0.00004613

47900000

0 250000000.0

0.00004613

2029-05-07 3800000 0 0

P2Y9M18D

P3Y2M12D

operating leases contain an option to extend the term for one additional five year period

1 1

P5Y

200000

400000

The following table summarizes supplemental balance sheet information related to the operating leases (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:80.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.547%;"/> <td style="width:1.52%;"/> <td style="width:1.0%;"/> <td style="width:12.883%;"/> <td style="width:1.0%;"/> <td style="width:1.52%;"/> <td style="width:1.0%;"/> <td style="width:13.532%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;">December 31,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Assets:</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Operating lease right-of-use assets</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,557</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,914</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Total right-of-use assets</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,557</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,914</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Liabilities:</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Operating lease liabilities, current</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">628</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">487</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Operating lease liabilities, non-current</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,392</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,183</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Total operating lease liabilities</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,020</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,670</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> </table>

2557000

1914000

2557000

1914000

628000

487000

1392000

1183000

2020000

1670000

As of June 30, 2022, the future minimum annual lease payments under the operating leases were as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:80.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:64.594%;"/> <td style="width:2.227%;"/> <td style="width:1.0%;"/> <td style="width:31.179%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">289</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">2023</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">734</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">2024</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">753</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Thereafter</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">513</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Total minimum lease payments</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,289</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> <tr> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: amount representing interest</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">269</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Present value of operating lease liabilities</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,020</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: operating lease liabilities, current</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">628</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Operating lease liabilities</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,392</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> <tr> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Weighted-average remaining lease term (in years)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">3.09</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Weighted-average incremental borrowing rate</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">8.13</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> </table>

289000

734000

753000

513000

2289000

269000

2020000

628000

1392000

P3Y1M2D

0.0813

700000

300000

6250

P1Y

102703000

10271000

92432000

200000000.0

100000000.0

50000000.0

1250000 0.005

2026-10-01

0.0550

0.0225

0.0335

0.0750 7500000 0.0125 0.600 0.35 900000000.0 0.025

74782

P7Y

33.43

2028-09-17

1300000

7500000

3100000

3638000 7510000 7790000 30139000 105773000 154850000 54850000

100000000

54300000

3000000.0

5800000

1200000

2500000

102700000

600000 7. Revenue Interest Financing Liability On May 3, 2022, Phathom entered into a Revenue Interest Financing Agreement with Initial Investors NQ, Sagard, and Hercules pursuant to which the Company will receive up to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">260 million in funding from the Initial Investors. Under the terms of the Revenue Interest Financing Agreement, the Company received $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">100 million at the initial closing and can receive an additional $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">160 million upon FDA approval of vonoprazan for treatment of erosive esophagitis on or before March 31, 2024. At any time prior to December 31, 2022, the Company also has the right to obtain a written commitment from a third party for up to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15 million of funding upon FDA approval of vonoprazan for erosive esophagitis. In addition, the Company has the right at any time prior to June 30, 2024, to obtain a written commitment from a third party for up to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">25 million of funding upon achievement of a sales milestone. The Initial Investors have a right of first offer if the Company seeks to obtain such additional funding. The total amount funded by the Initial Investors and any subsequent investors is referred to herein as the Investment Amount.Under the Revenue Interest Financing Agreement, the investors are entitled to receive a <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10% royalty on net sales of products containing vonoprazan. The royalty rate is subject to a step-down on net sales exceeding certain annual thresholds and if the Company receives FDA approval for vonoprazan for an indication relating to the treatment of heartburn associated with symptomatic non-erosive gastroesophageal reflux disease, or NERD. The investors’ right to receive royalties on net sales will terminate when the investors have aggregate payments equal to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">200% of the Investment Amount. In addition, at any time after the earlier of (i) April 30, 2024 and (ii) the date that the payment for erosive esophagitis regulatory approval is made, the Company has the right to make a cap payment equal to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">200% of the Investment Amount less any royalties already paid, at which time the agreement will terminate.If the investors have not received aggregate payments of at least <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">100% of the Investment Amount by December 31, 2028, and at least <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">200% of the Investment Amount by December 31, 2037, each a Minimum Amount, then the Company will be obligated to make a cash payment to the investors in an amount sufficient to gross the investors up to the applicable Minimum Amount.Upon the occurrence of an event of default taking place prior to April 1, 2025, between April 1, 2025, and April 1, 2028, and after April 1, 2028, the Company is obligated to pay <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1.30 times Investment Amount, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1.65 times Investment Amount, and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2.0 times investment amount, respectively, less any amounts the Company previously paid pursuant to the agreement. Upon the occurrence of a change in control event taking place prior to the earlier of April 1, 2024, or FDA approval of vonoprazan for erosive esophagitis, the Company is obligated to pay <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">200% of the Investment Amount plus either <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15% of the Investment Amount if occurrence prior to May 3, 2023, or plus <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">30% of the Investment Amount if occurrence thereafter. During the quarter ended June 30, 2022, the Company received gross proceeds of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">100.0 million before deducting transaction costs of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4.6 million, which resulted in net proceeds of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">95.4 million. The Company has evaluated the terms of the Revenue Interest Financing Agreement and concluded that the features of the Investment Amount are similar to those of a debt instrument. Accordingly, the Company has accounted for the transaction as a debt obligation with interest expense based on an imputed effective rate derived from the initial carrying value of the obligation and the expected future payments. The Company recalculates the effective interest rate each period based on the current carrying value and the revised estimated future payments. Changes in future payments from previous estimates are included in the current and future financing expense. The carrying value of the revenue interest financing liability was $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">98.1million as of June 30, 2022. <div style="font-size:12.0pt;font-family:Times New Roman;">Total revenue interest financing liability consists of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:60.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:77.957%;"/> <td style="width:1.0%;"/> <td style="width:20.043000000000003%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Beginning liability balance</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Proceeds from the Revenue Interest Financing Agreement</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">100,000</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: transaction costs</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,554</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: royalty payments and payables</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Plus: interest expense</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,657</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Ending liability balance</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">98,103</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> </tr> </table> </div>The Company will record liabilities associated with additional funding upon FDA approval of vonoprazan for erosive esophagitis and achievement of the sales milestone when such contingent events occur. To determine the accretion of the liability related to the Revenue Interest Financing Agreement, the Company is required to estimate the total amount of future royalty payments and estimated timing of such payments based on the Company’s revenue projections. As royalty payments are made, the balance of the debt obligation will be effectively repaid. Based on the Company’s periodic review, the exact timing of repayment is likely to be different in each reporting period as compared to those estimated in the Company’s initial revenue projections. A significant increase or decrease in actual net sales of vonoprazan compared to the Company’s revenue projections could impact the interest expense associated with the revenue interest financing liability. Also, the Company’s total obligation can vary depending on change in control or default events and the achievement of FDA approval of vonoprazan for erosive esophagitis and achievement of the sales milestone. 260000000 100000000 160000000 15000000 25000000 0.10 The investors’ right to receive royalties on net sales will terminate when the investors have aggregate payments equal to 200% of the Investment Amount. In addition, at any time after the earlier of (i) April 30, 2024 and (ii) the date that the payment for erosive esophagitis regulatory approval is made, the Company has the right to make a cap payment equal to 200% of the Investment Amount less any royalties already paid, at which time the agreement will terminate. 2 2 If the investors have not received aggregate payments of at least 100% of the Investment Amount by December 31, 2028, and at least 200% of the Investment Amount by December 31, 2037, each a Minimum Amount, then the Company will be obligated to make a cash payment to the investors in an amount sufficient to gross the investors up to the applicable Minimum Amount. 1 2 Upon the occurrence of an event of default taking place prior to April 1, 2025, between April 1, 2025, and April 1, 2028, and after April 1, 2028, the Company is obligated to pay 1.30 times Investment Amount, 1.65 times Investment Amount, and 2.0 times investment amount, respectively, less any amounts the Company previously paid pursuant to the agreement. 1.30 1.65 2.0 Upon the occurrence of a change in control event taking place prior to the earlier of April 1, 2024, or FDA approval of vonoprazan for erosive esophagitis, the Company is obligated to pay 200% of the Investment Amount plus either 15% of the Investment Amount if occurrence prior to May 3, 2023, or plus 30% of the Investment Amount if occurrence thereafter. 2 0.15 0.30 100000000.0 4600000 95400000 98100000 Total revenue interest financing liability consists of the following (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:60.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:77.957%;"/> <td style="width:1.0%;"/> <td style="width:20.043000000000003%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Beginning liability balance</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Proceeds from the Revenue Interest Financing Agreement</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">100,000</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: transaction costs</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,554</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Less: royalty payments and payables</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Plus: interest expense</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,657</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Ending liability balance</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">98,103</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> </tr> </table> 100000000 4554000 2657000 98103000

8. Stockholders’ Equity Common Stock In March 2019, subsequent to the Merger, the Company sold <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,491,072 shares of the Company’s common stock to Frazier.In March 2019, the founders granted the Company a repurchase right for the <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">3,373,408 shares of common stock originally purchased in 2018. The Company has the right, but not the obligation, to repurchase unvested shares in the event the founder’s relationship with the Company is terminated, subject to certain limitations, at the original purchase price of the stock. The repurchase right lapsed for <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">843,352 shares in March 2019 and the repurchase right for the remaining <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,530,056 shares lapses in equal monthly amounts over the following 48-month period ending in March 2023. The fair value of the founder shares at the date the repurchase right was granted is being recognized as stock-based compensation expense on a straight-line basis over the vesting period. As of June 30, 2022, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">237,192 shares of common stock were subject to repurchase by the Company and the associated repurchase liability was not significant. The amount of recognized and unrecognized stock-based compensation related to the founder stock was immaterial for all periods presented. In May 2019, the Company issued Takeda <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,084,000 shares of common stock in connection with the Takeda License. For the period from January 1, 2019 to May 6, 2019, the Company issued <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,524,852 shares of common stock to various employees and consultants of the Company for aggregate proceeds of approximately $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,000. Upon issuance, these shares were subject to a repurchase option by the Company at the original purchase price of the shares. The repurchase rights generally lapse as to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">25% of the shares on the first anniversary of the vesting commencement date, and the repurchase right lapses as to 1/48th of the shares each one-month period thereafter, subject to the purchaser remaining continuously an employee, consultant or director of the Company. In November 2019, the Company repurchased <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">17,560 shares at the original purchase price for an aggregate purchase price of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5.20. As of June 30, 2022, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">462,432 shares remain available for repurchase by the Company and the associated repurchase liability was not significant.On October 29, 2019, upon completion of the IPO, the Company sold <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">10,997,630 shares of common stock, which included the exercise in full by the underwriters of their option to purchase <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,434,473 additional shares at a public offering price of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">19.00 per share. The net proceeds were approximately $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">191.5 million, after deducting underwriting discounts, commissions and offering costs.In November 2020, the Company entered into an Open Market Sale AgreementSM, or, the Sales Agreement, with Jefferies LLC, or, the Sales Agent, under which it may, from time to time, sell shares of its common stock having an aggregate offering price of up to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">125.0 million through the Sales Agent, or, the ATM Offering. Pursuant to the Sales Agreement, the Company will pay the Sales Agent a commission for its services in acting as an agent in the sale of common stock in an amount equal to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">3% of the gross sales price per share sold. <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">No shares were sold under the ATM Offering as of June 30, 2022.On December 16, 2020, the Company completed an underwritten public offering, in which it sold <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,250,000 shares of its common stock at a price of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">42.00 per share for total gross proceeds of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">94.5 million. The net purchase price after deducting underwriting discounts and commissions was $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">39.48 per share, which generated net proceeds of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">88.8 million. The Company incurred an additional $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.2 million of offering expenses in connection with this public offering.<div style="font-size:10.0pt;font-family:Times New Roman;">A summary of the Company’s unvested shares is as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:60.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.034%;"/> <td style="width:1.857%;"/> <td style="width:1.0%;"/> <td style="width:16.109%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at December 31, 2021</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,144,809</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Share vesting</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">445,185</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">699,624</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> </table></div>For accounting purposes, unvested shares of common stock are considered issued, but not outstanding until they vest. <div style="font-size:10.0pt;font-family:Times New Roman;">Common stock reserved for future issuance consists of the following: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:60.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.375%;"/> <td style="width:1.78%;"/> <td style="width:1.0%;"/> <td style="width:15.845%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Common stock warrants</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">91,228</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Stock options, PSUs and RSUs outstanding</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">6,624,915</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Shares available for issuance under the 2019 Incentive Plan</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,311,660</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Shares available for issuance under the ESPP Plan</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">802,085</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">8,829,888</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> </table></div>Preferred StockThe Company is authorized to issue up to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">40 million shares of preferred stock. As of June 30, 2022 and December 31, 2021, there were <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no shares of preferred stock issued or outstanding. Equity Incentive PlanThe Company’s 2019 Equity Incentive Plan (the “Existing Incentive Plan”) provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, and other stock awards to eligible recipients, including employees, directors or consultants of the Company. The Company had <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,231,739 shares of common stock authorized for issuance under the Existing Incentive Plan, of which, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,400,528 stock options and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">16,260 restricted stock awards were granted. As a result of the adoption of the 2019 Incentive Award Plan (the “2019 Plan”) in October 2019, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no further shares are available for issuance under the Existing Incentive Plan.2019 Incentive Award PlanIn October 2019, the board of directors adopted, and the Company’s stockholders approved, the 2019 Plan, which became effective in connection with the IPO. Under the 2019 Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units and other awards to individuals who are then employees, officers, non-employee directors or consultants of the Company or its subsidiaries. The number of shares initially available for issuance will be increased by (i) the number of shares subject to stock options or similar awards granted under the Existing Incentive Plan that expire or otherwise terminate without having been exercised in full after the effective date of the 2019 Plan and unvested shares issued pursuant to awards granted under the Existing Incentive Plan that are forfeited to or repurchased by the Company after the effective date of the 2019 Plan, with the maximum number of shares to be added to the 2019 Plan pursuant to clause (i) above equal to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,416,788 shares, and (ii) an annual increase on January 1 of each calendar year beginning in 2020 and ending in 2029, equal to the lesser of (a) <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5% of the shares of common stock outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of shares as determined by the board of directors. As of June 30, 2022, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,311,660 shares remain available for issuance, which reflects <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,148,734 of stock option, performance-based unit, or PSU, and restricted stock unit, or RSU, awards granted, and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">104,848 of awards cancelled or forfeited, during the six months ended June 30, 2022 as well as an annual increase of <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,582,802 shares authorized on January 1, 2022.Performance-based UnitsDuring 2020, the Company granted the initial PSUs whereby vesting depends upon the approval by the FDA of vonoprazan for H. pylori and then, or concurrent with, erosive esophagitis. In 2022, the Company granted an additional <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">37,500 PSUs to employees. As of June 30, 2022, the PSU milestones had not been achieved and <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">no related compensation cost had been recognized. The following table summarizes PSU activity under the 2019 Incentive Award Plan during the six months ended June 30, 2022.<div style="font-size:10.0pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:60.942%;"/> <td style="width:1.751%;"/> <td style="width:1.0%;"/> <td style="width:15.373999999999999%;"/> <td style="width:1.0%;"/> <td style="width:1.751%;"/> <td style="width:1.0%;"/> <td style="width:16.183%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Number of Stock Units</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Grant Date Fair Value Per Share</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at December 31, 2021</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">394,300</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">32.23</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Granted</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">37,500</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">20.06</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Vested</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Forfeited</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11,250</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">38.14</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">420,550</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">30.99</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> </table></div>As of June 30, 2022, there was approximately $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">13.0 million of related unrecognized compensation cost, which will begin to be recognized upon vesting.Restricted Stock UnitsDuring 2022, the Company granted <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">590,937 RSUs with vesting over time. The following table summarizes RSU activity under the 2019 Incentive Award Plan during the six months ended June 30, 2022.<div style="font-size:10.0pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:61.029%;"/> <td style="width:1.658%;"/> <td style="width:1.0%;"/> <td style="width:15.204%;"/> <td style="width:1.0%;"/> <td style="width:1.658%;"/> <td style="width:1.0%;"/> <td style="width:16.451%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Number of Stock Units</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Grant Date Fair Value Per Share</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at December 31, 2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Granted</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">590,937</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11.66</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Vested</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Forfeited</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,050</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15.21</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">586,887</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11.64</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> </table></div>As of June 30, 2022, the Company had $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">6.0 million of unrecognized stock-based compensation expense, which is expected to be recognized over a weighted-average period of 2.1 years. Employee Stock Purchase PlanIn October 2019, the board of directors adopted, and the Company’s stockholders approved, the Employee Stock Purchase Plan, or the ESPP, which became effective in connection with the IPO. The ESPP permits participants to purchase common stock through payroll deductions of up to <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">20% of their eligible compensation, which includes a participant’s gross base compensation for services to the Company, including overtime payments and excluding sales commissions, incentive compensation, bonuses, expense reimbursements, fringe benefits and other special payments. A total of <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">270,000 shares of common stock was initially reserved for issuance under the ESPP. In addition, the number of shares available for issuance under the ESPP will be annually increased on January 1 of each calendar year beginning in 2020 and ending in 2029, by an amount equal to the lesser of: (i) <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1% of the shares outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares as is determined by the board of directors. As of June 30, 2022, <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">802,085 shares of common stock remain available for issuance, which includes the <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">39,951 shares sold to employees during the six months ended June 30, 2022.The ESPP is considered a compensatory plan, and for the three and six months ended June 30, 2022, the Company recorded related stock-based compensation of $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.2 million and $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.3 million, respectively, compared to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.1 million and $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.2 million, respectively, for the same periods in 2021. The weighted-average assumptions used to estimate the fair value of ESPP awards using the Black-Scholes option valuation model were as follows:<div style="font-size:10.0pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:65.522%;"/> <td style="width:1.445%;"/> <td style="width:1.0%;"/> <td style="width:13.475999999999999%;"/> <td style="width:1.0%;"/> <td style="width:1.445%;"/> <td style="width:1.0%;"/> <td style="width:14.111999999999998%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Six Months Ended June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Assumptions:</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected term (in years)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">0.49</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">0.75</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected volatility</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">72.41</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">81.83</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Risk free interest rate</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.37</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.10</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Dividend yield</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> </table></div>The estimated weighted-average fair value of ESPP awards for the six months ended June 30, 2022 and 2021, were $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5.31 and $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15.85, respectively. As of June 30, 2022, the total unrecognized compensation expense related to the ESPP was $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">28,000, which is expected to be recognized over a weighted-average period of approximately 0.5 months. 401(k) PlanThe Company established a 401(k) savings plan during the year ended December 31, 2020. The Company’s contributions to the plan are discretionary. During the three and six months ended June 30, 2022, the Company incurred $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.3 million and $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.9 million, respectively, of expense related to estimated employer contribution liabilities, which was based on a <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">75% match of employees’ contributions during the periods, compared to $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.2 million and $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.6 million, respectively, for the same periods in 2021. In August 2021, the Board of Directors approved a semi-annual discretionary match for 2021, which was settled by contributing <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">18,394 shares. In January 2022, the Board of Directors approved a second semi-annual discretionary match for 2021, which was settled by contributing <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">16,756 shares. Stock OptionsThe fair value of each employee and non-employee stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company, prior to the IPO on October 29, 2019, was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected volatility based on the historical volatility of a publicly traded set of peer companies. Due to the lack of historical exercise history, the expected term of the Company’s stock options for employees was determined utilizing the “simplified” method for awards. The expected term of stock options granted to non-employees was equal to the contractual term of the option award. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield was <span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">zero based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future.<div style="font-size:10.0pt;font-family:Times New Roman;">A summary of the Company’s stock option activity and related information is as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:90.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:43.85%;"/> <td style="width:1.309%;"/> <td style="width:1.0%;"/> <td style="width:10.074%;"/> <td style="width:1.0%;"/> <td style="width:1.309%;"/> <td style="width:1.0%;"/> <td style="width:11.002%;"/> <td style="width:1.0%;"/> <td style="width:1.33%;"/> <td style="width:1.0%;"/> <td style="width:10.826%;"/> <td style="width:1.0%;"/> <td style="width:1.33%;"/> <td style="width:1.0%;"/> <td style="width:10.97%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Options Outstanding</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Exercise Price</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Remaining Contractual Term</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Aggregate Intrinsic Value (in thousands)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at December 31, 2021</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,186,729</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">27.53</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">8.43</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">13,973</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options granted</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,520,297</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">14.76</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options exercised and shares vested</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options forfeited, expired or cancelled</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">89,548</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">32.99</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5,617,478</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">23.99</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">8.34</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,435</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options exercisable as of June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,013,657</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">24.74</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">7.57</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">838</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table></div>The estimated weighted-average fair value of employee and nonemployee director stock options granted during 2022 was $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">8.96 per option. As of June 30, 2022, the Company had $<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">47.9 million of unrecognized stock-based compensation expense, which is expected to be recognized over a weighted-average period of 2.3 years. <div style="font-size:10.0pt;font-family:Times New Roman;">The weighted-average assumptions used to estimate the fair value of stock options using the Black-Scholes option valuation model were as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:41.31%;"/> <td style="width:1.564%;"/> <td style="width:1.0%;"/> <td style="width:25.787%;"/> <td style="width:1.0%;"/> <td style="width:1.564%;"/> <td style="width:1.0%;"/> <td style="width:25.774%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Six Months Ended June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Assumptions:</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected term (in years)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">6.05</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">6.04</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected volatility</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">66.04</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">67.38</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Risk free interest rate</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1.89</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.64</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Dividend yield</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table></div>Stock-Based Compensation Expense<div style="font-size:10.0pt;font-family:Times New Roman;">Stock-based compensation expense recognized for all equity awards, including founder stock, has been reported in the statements of operations and comprehensive loss as follows (in thousands): <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:35.986%;"/> <td style="width:1.141%;"/> <td style="width:1.0%;"/> <td style="width:12.564%;"/> <td style="width:1.0%;"/> <td style="width:1.141%;"/> <td style="width:1.0%;"/> <td style="width:13.161%;"/> <td style="width:1.0%;"/> <td style="width:1.141%;"/> <td style="width:1.0%;"/> <td style="width:12.564%;"/> <td style="width:1.0%;"/> <td style="width:1.141%;"/> <td style="width:1.0%;"/> <td style="width:13.161%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Three Months Ended June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="6" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Six Months Ended June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Research and development expense</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,319</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,027</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,458</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,886</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">General and administrative expense</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,566</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">3,210</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">9,202</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">6,169</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Total</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5,885</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,237</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11,660</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">8,055</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"> </td> </tr> </table></div>

1491072

3373408

843352

2530056

P48M

2023-03

237192

1084000

2524852

1000

0.25

17560

5.20

462432

10997630

1434473

19.00

191500000

125000000.0 0.03

2250000

42.00

94500000 39.48 88800000 200000

1144809

445185

699624

91228

6624915

1311660

802085

8829888

40000000

2231739

1400528

16260

The number of shares initially available for issuance will be increased by (i) the number of shares subject to stock options or similar awards granted under the Existing Incentive Plan that expire or otherwise terminate without having been exercised in full after the effective date of the 2019 Plan and unvested shares issued pursuant to awards granted under the Existing Incentive Plan that are forfeited to or repurchased by the Company after the effective date of the 2019 Plan, with the maximum number of shares to be added to the 2019 Plan pursuant to clause (i) above equal to 1,416,788 shares, and (ii) an annual increase on January 1 of each calendar year beginning in 2020 and ending in 2029, equal to the lesser of (a) 5% of the shares of common stock outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of shares as determined by the board of directors. As of June 30, 2022, 1,311,660 shares remain available for issuance, which reflects 2,148,734 of stock option, performance-based unit, or PSU, and restricted stock unit, or RSU, awards granted, and 104,848 of awards cancelled or forfeited, during the six months ended June 30, 2022 as well as an annual increase of 1,582,802 shares authorized on January 1, 2022.

1416788

0.05

1311660

2148734 104848 1582802

37500

The following table summarizes PSU activity under the 2019 Incentive Award Plan during the six months ended June 30, 2022. <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:60.942%;"/> <td style="width:1.751%;"/> <td style="width:1.0%;"/> <td style="width:15.373999999999999%;"/> <td style="width:1.0%;"/> <td style="width:1.751%;"/> <td style="width:1.0%;"/> <td style="width:16.183%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Number of Stock Units</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Grant Date Fair Value Per Share</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at December 31, 2021</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">394,300</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">32.23</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Granted</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">37,500</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">20.06</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Vested</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Forfeited</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11,250</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">38.14</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">420,550</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">30.99</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> </table>

394300

32.23

37500

20.06

11250

38.14

420550

30.99

13000000.0

590937

The following table summarizes RSU activity under the 2019 Incentive Award Plan during the six months ended June 30, 2022. <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:61.029%;"/> <td style="width:1.658%;"/> <td style="width:1.0%;"/> <td style="width:15.204%;"/> <td style="width:1.0%;"/> <td style="width:1.658%;"/> <td style="width:1.0%;"/> <td style="width:16.451%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Number of Stock Units</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Grant Date Fair Value Per Share</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at December 31, 2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Granted</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">590,937</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11.66</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Vested</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">-</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Forfeited</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,050</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);">)</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15.21</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Unvested balance at June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">586,887</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">11.64</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> </tr> </table>

590937

11.66

4050

15.21

586887

11.64

6000000.0

P2Y1M6D

0.20

270000

In addition, the number of shares available for issuance under the ESPP will be annually increased on January 1 of each calendar year beginning in 2020 and ending in 2029, by an amount equal to the lesser of: (i) 1% of the shares outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares as is determined by the board of directors. As of June 30, 2022, 802,085 shares of common stock remain available for issuance, which includes the 39,951 shares sold to employees during the six months ended June 30, 2022

0.01

802085

39951

200000

300000

100000

200000

The weighted-average assumptions used to estimate the fair value of ESPP awards using the Black-Scholes option valuation model were as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:65.522%;"/> <td style="width:1.445%;"/> <td style="width:1.0%;"/> <td style="width:13.475999999999999%;"/> <td style="width:1.0%;"/> <td style="width:1.445%;"/> <td style="width:1.0%;"/> <td style="width:14.111999999999998%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="6" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Six Months Ended June 30,</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">2021</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Assumptions:</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected term (in years)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">0.49</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">0.75</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Expected volatility</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">72.41</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">81.83</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Risk free interest rate</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.37</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.10</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">%</td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Dividend yield</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">-</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> </table>

P0Y5M26D

P0Y9M

0.7241

0.8183

0.0037

0.0010

5.31

15.85

28000

P0M15D

300000

900000

0.75

200000

600000

18394 16756

A summary of the Company’s stock option activity and related information is as follows: <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:90.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:43.85%;"/> <td style="width:1.309%;"/> <td style="width:1.0%;"/> <td style="width:10.074%;"/> <td style="width:1.0%;"/> <td style="width:1.309%;"/> <td style="width:1.0%;"/> <td style="width:11.002%;"/> <td style="width:1.0%;"/> <td style="width:1.33%;"/> <td style="width:1.0%;"/> <td style="width:10.826%;"/> <td style="width:1.0%;"/> <td style="width:1.33%;"/> <td style="width:1.0%;"/> <td style="width:10.97%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:top;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Options Outstanding</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Exercise Price</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Weighted- Average Remaining Contractual Term</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;">Aggregate Intrinsic Value (in thousands)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:left;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at December 31, 2021</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4,186,729</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">27.53</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">8.43</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">13,973</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options granted</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,520,297</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">14.76</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options exercised and shares vested</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">—</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options forfeited, expired or cancelled</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">(<span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">89,548</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">)</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">32.99</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td colspan="2" style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;">Balance at June 30, 2022</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5,617,478</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">23.99</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;">8.34</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(255,255,255,0.01);"> </td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);">$</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,435</td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"> </td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;">Options exercisable as of June 30, 2022</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">2,013,657</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">24.74</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;">7.57</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"> </td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;">$</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">838</td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table>

4186729

27.53

P8Y5M4D

13973000

1520297

14.76

89548

32.99

5617478

23.99

P8Y4M2D

1435000

2013657

24.74

P7Y6M25D

838000

8.96

47900000

P2Y3M18D

P6Y18D

P6Y14D

0.6604

0.6738

0.0189

0.0064

1319000

1027000

2458000

1886000

4566000

3210000

9202000

6169000

5885000

4237000

11660000

8055000